If you work closely with technology — and frankly, even if you don’t — the Internet of Things (IoT) has been one of the most inescapable topics of the past several years.
The promise of interconnected devices, factories, homes, and cities is becoming a reality faster than we can keep up with. Global spending on IoT is projected to reach $1.2 trillion in 2022, with the number of cellular IoT connections estimated to reach 3.5 billion in 2023.
LocatorX aims to be a force for good in this emerging space. As a society, we are still learning how to approach this technology, along with how it might affect our businesses and our families. We’re experiencing together the amazing benefits but also the challenges and risks.
But as with any tech revolution, there is no pressing “pause” on the spread of IoT. So staying informed and investing in companies you can trust is paramount. Building that trust in every department, from data privacy to the overall customer satisfaction, is a central focus of our team as we take our breakthrough technologies to market. This begins with understanding our product, inside and out, and the real-world implications of digital transformation — along with the ever-changing idea of what this means.
We’re proud to have been featured in two recent articles related to IoT. The Australia-based IT Brief interviewed LocatorX Founder Billy Meadow, while Digital Journal interviewed our president and CEO Scott Fletcher.
In both interviews, we discussed how our current Certified QR Code solutions factor into the Internet of Things, particularly with regard to manufacturing and supply chain. By giving a unique identity to every feasible asset — not only machines and parts, but each individual product — we believe businesses can perform at a higher level than ever before.
“By applying LocatorX cutting-edge Product Certificate Authority and Certified QR Code technology to a product’s packaging, brands can keep tabs on their goods throughout the supply chain and ensure product integrity all at a near-zero cost,” said Billy in his interview with IT Brief.
These QR codes are unique for each and every product that rolls off your factory line. Not only will this stop counterfeiting in its tracks — it will expand the potential of a company’s personal IoT, with a seamless flow of information between all relevant assets.
“Any product can become an ‘Internet of Things’ product by simply adding a QR code,” said Fletcher in his interview with Digital Journal. “These codes can be printed on any mass-produced product at no additional cost.”
Even without more robust IoT devices in place, the tracking made possible with these innovations can be a step in the right direction for a business considering this route. As pressure mounts to convert your systems to IoT, and the benefits too great to ignore, we believe enabling your assets with smart QR codes is a sensible option to begin the transformation.
“Most Internet of Things implementations are overly ambitious in their features and functions, and thus, never get implemented,” said Fletcher. “The best solution is to start small. Start communicating with or tracking an asset with a low-cost solution that meets 80% of your needs at 20% of the cost of a fully functional system.”
“There are plenty of other external factors that limit your ability to achieve 100% of your functionality, so start with a solution that helps you implement and learn.”
Just like the IoT itself, our progress is really just beginning. In the coming months, we’ll talk more at length about our patented solid-state miniature atomic clock, and how it will change the way we track assets for the Internet of Things and beyond.